|
LEAD: APEC leaders begin summit, they will vow no new trade barriers for 1 year+
(Japan Economic Newswire Via Acquire Media NewsEdge) LIMA, Nov. 22_(Kyodo) _ (EDS: UPDATING WITH START OF 1ST-DAY MEETING)
Asia-Pacific leaders began a two-day summit Saturday in Lima at which they are expected to promise not to impose any trade or investment barriers over the next 12 months in an effort to counter the impact of the expanding global financial crisis, according to conference sources.
The sources said the period of the standstill is now included in a draft of a separate one-page statement on their resolve to address the crisis, which may be released after the first day session of the Asia Pacific Economic Cooperation forum summit.
The wording of the standalone statement, in addition to their joint declaration to be released Sunday, has not yet been completely finalized, but it is certain that the 21 Pacific Rim leaders will one way or another strongly pledge to resist all forms of protectionism, the sources said.
They will note that concerted efforts by the countries bordering the Pacific, seen as one of the central engines of the world's growth, would greatly contribute to staving off a potential serious economic slump, according to delegates.
In this context, as their trade and foreign ministers stated earlier this week, the leaders will vow to work toward a breakthrough in the long-running Doha Round of free trade talks under the World Trade Organization by the end of this year, the delegates said.
The APEC summit will likely be U.S. President George W. Bush's last official foreign trip before he leaves the White House in January.
The leaders, including also Japanese Prime Minister Taro Aso and Chinese President Hu Jintao, will meet in the Peruvian capital just a week after the financial summit in Washington, so that most of the substance regarding the crisis will be very similar to what has already been said in the declaration of the so-called Group of 20 major developed and developing countries.
But one of the sources said they are making arrangements to pick "a stronger verb" than "strive," used in the Washington declaration, to show their full determination to strike a basic deal next month on key trade terms for a successful conclusion of the WTO trade talks.
The strong message from the leaders of the APEC economies, which account for nearly half of all global trade, will likely add impetus to the move toward a possible ministerial meeting in Geneva on the Doha Round.
The G-20 leaders said last Saturday they "shall strive to reach agreement this year on modalities."
On the first day of the meeting, the leaders will mainly focus on issues related to the financial crisis, food and energy security and the WTO trade negotiations, according to the delegates.
On the second day, they will exchange views on regional economic integration, corporate social responsibility, climate change and human security.
APEC groups Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Taiwan, Thailand, the United States and Vietnam.
Copyright ? 2008 Kyodo News International, Inc.
[ Back To TMCnet.com's Homepage ]
|
INDUSTRIES
Activate Email 
Find Solutions for Enterprises, SMBs & Service Providers at the INTERNET TELEPHONY Conference and EXPO East, January 20-22, 2010. Miami, FL.
